There is no doubt that the constant news about the banking crisis in the US and the development of AI have given wings to the entire crypto world, including Cardano, Decentraland and The Graph.
Analysis of Cardano, Decentraland and The Graph cryptocurrencies
After the initial euphoria that led the crypto sector to rise between 8% and 40% in just two days due to the recent events in the banking sector, the trend has stabilized, but Cardano, Decentraland and The Graph continue the positive trend.
Cardano (ADA): the cryptocurrency follows an upward trend along with Decentraland and The Graph
gimbal has recovered 8% over the past week and has gained 2.40% since yesterday.
The ADA award drops to 0.31 Euro with 34,707,254,291.03 pieces in circulation.
The news from the US side was good for the entire crypto sector which benefited in terms of earnings.
If the push received from ADA exceeds 0.40 Euro, a new upward spiral will start and new green candles will see the light.
If this does not happen due to a fading wave of optimism from the whales, it could touch the $0.24 support.
While that scenario is possible, analysis puts the former as more likely, given the Fed’s recent countermeasures and the contagion, which shows no signs of stopping.
Also Decentralized like other cryptocurrencies, it benefited from the crisis of classical finance.
For the last 7 days the price of MANA increased by 12.52%.
Today, the token is increasing by 1.50% to $0.58.
Now 5 years old, Decentraland is the market leader in virtual land sales on the metaverse.
The meta-version of Decentraland is the agora, where the supply and demand for land collide to make their deal, and the currency of exchange is precisely MANA.
MANA is the official currency of the Decentraland virtual world and is the currency of exchange for land between users themselves.
The year started in an excellent way for the token, which after an initial rally of 101% in early January reached a high of 195% before returning to moderate performances.
Despite the slower growth, the upward trend of the virtual currency continues.
As we well know Chart closely related to the world of artificial intelligence.
Recent news from the AI and Big Data sector has put The Graph in an optimal position for investors to reward it.
GPT chat it drove and drives the entire microsector also thanks to the innovations introduced by Google.
In fact, the search engine giant recently announced that it will implement some of its services, such as Gmail and Docs, with ChatGPT technology.
Meanwhile, GRT has reached a market capitalization of over $1 billion.
The success in the numbers in terms of both value and capitalization is primarily due to two things.
On the one hand, the real success of the platform, which, although it started in the last quarter of 2022, is still ongoing, and on the other, the mass adoption of AI.
ChatGPT, which is another major company in the industry alongside The GraphArtificial Intelligence it also fueled GRT itself, proving that with every positive news from a company in the industry, others gain as well, contrary to what one might assume.
The chart brings home huge investment and user trust.
Only in the last week GRT price it grows by 33%, while today it appreciates by another 1.59% and reaches 0.14 Euro.
The Graph gives the possibility to record, among other things, the data of 26 different blockchains.
The Graph’s earnings are primarily based on inflation index premiums and query fees for on-chain data consumers.
Author: George Michael Belardinelli